Nguyễn Chu Hồi Professor Dr Nguyễn Chu Hồi, lecture at the Hà Nội National University talks to the weekly magazine Việt Nam & World Economy on what measures and solutions the country should pursue to achieve the goal of sustainable maritime economic development by 2030. What is your assessment of Việt Nam’s potentiality and opportunity in maritime economic development? The Vietnamese sea is both rich and beautiful. I’ve been to 65 countries and territories with sea and islands, but none of them have better opportunities than ours in developing the maritime economy. We have a very clear policy in deeper international integration in the era of globalisation. The Vietnamese Party and Government have paid due attention to maritime economic development including the issuance of strategies and resolutions on how best to tap the great potential of the sea economy in a sustainable way. Will you please give us a short summary … [Read more...] about Solutions for sustainable maritime economic development
Economic development and cultural change
Bac Giang: building firm FDI foundations of industry and tourism
Bac Giang will step up its FDI game for further development A rising FDI destination Recently, many big South Korean companies in the technology and electronics sector like Samsung and LG continue to choose Vietnam to house their large factories. This, in turn, attracts many Korean suppliers to Vietnam. A latest example is SJ Tech Vietnam—a 100 per cent Korean-owned firm—which invested into a facility manufacturing LCD components for mobile phones in Bac Giang. The project’s area is more than 50,000sq.m, with the total investment value reaching $17 million. In 2018, the company’s revenue is expected to reach over VND200 billion ($8.85 million). Each year, the firm pays tens of billions of dong into the state budget, generate employment for thousands of labourers, with incomes from VND7-10 million per person per month. Talking about why SJ Tech Vietnam chose Bac Giang for its factory, general director Ry Hyoung Goan shared that from the beginning of the … [Read more...] about Bac Giang: building firm FDI foundations of industry and tourism
Industry 4.0 to bring cultural change
Mr. Paul Huynh, HR Director, KPMG Vietnam With the dynamic changes that are constantly happening, it’s important that HR teams are future-ready by proactively looking at the entire employee and people experience. Automation, robotics and artificial intelligence (AI) are impacting every facet of the business, so looking at enhancements to the way you recruit, develop and motivate talent to stay with the company should be done with a digital lens. Data and analytics will continue to play a key role, so a HR teams’ ability to use and manipulate critical data will ensure it adds real strategic value to the organization and its leaders. It’s very important to fully understand the benefits that technology can bring to a company’s overall performance and employee productivity. Senior HR therefore need to select the systems most suitable to their organization and equip employees with comprehensive knowledge on using these technologies, via training or demonstration. … [Read more...] about Industry 4.0 to bring cultural change
SAEZs to spur Vietnam’s economic development
The 14th National Assembly’s fifth session, which kicks off on Monday this week and will be wrapped up on June 14, will officially pass the Law on SAEZs compiled by the Ministry of Planning and Investment (MPI), said Minister Nguyen Chi Dung at a dialogue on Tuesday between him and the enterprise community in Vietnam. The law is aimed to establish three special administrative-economic zones (SAEZs)—also the first of their kind in Vietnam—including Van Don, North Van Phong, and Phu Quoc. SAEZs like Van Don is expected to develop strongly thanks to the new law A resolution on establishing the three zones will be issued later this year. “The law reflects a sharp change in the mindset of the Party, the National Assembly, and the government in investment attraction policies. We take the initiative in creating a new ‘playground’ in Vietnam, with new rules and superior policies which can help compete with other regional nations,” the minister … [Read more...] about SAEZs to spur Vietnam’s economic development
HCM City Party Committee reviews socio-economic development
Secretary of the HCM City Party Committee Nguyen Thien Nhan (Source: VNA) HCM City (VNA) – The Ho Chi Minh City Party Committee, tenth tenure, convened its 16th meeting on April 17 to discuss the local socio-economic development in the first quarter of 2018 and a mid-term review plan. Nguyen Thien Nhan, Secretary of the HCM City Party Committee, chaired the meeting. During the event, delegates focused their discussion on the implementation of the National Assembly’s Resolution No.54 to pilot special mechanisms and policies for the city’s development, how the city handled complaints over actions of local governmental officials in breach of the Party’s regulations and the State’s law in the first three months, and the five-year implementation of the city’s action plan on climate change response and enhancement of natural resources management and environmental protection. They also evaluated their mid-term performance over the last two and a … [Read more...] about HCM City Party Committee reviews socio-economic development